Fed cuts rates 75 basis points in emergency move

Hoping to prevent a market meltdown and recession, the Federal Reserve lowered its overnight lending rate by 75 basis points to 3.50% on Tuesday in a rare move between formal meetings. See full story.

Bank of America profit falls 95% on writeoff, trading loss

Bank of America said Tuesday its fourth-quarter profit tumbled 95% after the company said writeoffs for subprime credit problems, big trading losses and a weakening consumer hit the firm. See full story.

Europe Markets: Stocks in Europe close higher as banking stocks rally

European shares moved off lows Tuesday morning as speculation grew that central banks would cut interest rates to shore up markets that have been hard hit by worries about slowing growth and asset write-downs. See full story.

Asia Markets: Sell-off unabated; Tokyo falls 6%, Hong Kong drops 9%

Asian stocks came under relentless selling pressure for the second straight session on Tuesday, a day after fears the U.S. economy could slip into a recession triggered a sell-off that spread to Europe and Latin America. See full story.

David Weidner's Writing on the Wall: It's time for Wall Street to give back its bonuses

A more permanent way for Wall Street to learn a lesson about its irresponsible ways would be for everyone who depends on a bonus to lose it. Of course, this would create havoc in the short term. But would it be any more havoc than has been unleashed on the U.S. banking system? See full story.

More employers look to recruit workers 50 and older

SAN FRANCISCO (MarketWatch) -- AARP is adding three federal government agencies and six private companies to its list of employers looking to hire people 50 and older for a variety of full-time, part-time and seasonal jobs, the group announced Thursday. See full story.

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